Brooklyn luxury market surges with nearly $73M in contracts

Deals signed for 25 homes asking $2M or more last week

176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn’s luxury market got an early holiday gift last week.

Some 25 contracts were signed last week for homes asking $2 million or more, according to Compass’ weekly report. Combined, the price tags totaled $73 million. The previous week had 12 contracts signed for homes asking a combined $37.8 million.

The median asking price for last week’s deals was $2.6 million with an average listing discount of 2 percent. The average property spent 127 days on the market.

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The most expensive contracts inked last week were once again for townhouses. The priciest home was in Williamsburg, at 176 North 6th Street. The three-story house spans almost 5,000 square feet with five bedrooms with a landscaped backyard and private roof deck with an outdoor kitchen. It was last asking $5.5 million.

The second priciest deal was for a 20-foot wide townhouse that dates back to the 1860s at 16 South Portland Avenue in Fort Greene. The 3,760-square-foot home also has five bedrooms and its final asking price was $4.1 million.

Of the 25 deals last week, 17 were townhouses, seven were condo units and one was a co-op. The average price per square foot for the condos was $1,631 versus $928 for the townhouses.